Cattle Lower on Thursday with Weakness in Cash

Live cattle futures are down a dime to 80 cents in most contracts on Thursday. A few scattered sales of $110 have been reported in the South so far on Thursday. Feeder cattle futures are down 90 cent sot $1.35 at midday. The CME feeder cattle index was down 16 cents to $133.05 on June 18. Wholesale boxed beef prices were higher on Thursday morning. Choice boxes were up 27 cents at $221.86 with Select boxes 23 cents higher @ $202.47. USDA estimated the week to date FI cattle slaughter @ 361,000 head. That was 9,000 head larger than the same point last year and down 3,000 from last week. Friday’s Cattle on Feed report is expected to show June 1 on feed numbers up 1.3% from last year. May placements are seen down 4.1%, with marketings up 0.8%. USDA reported 17,951 MT in weekly beef export sales during the week of June 13, with shipments running 19,292 MT.

Jun 19 Cattle are at $108.400, down $0.100,

Aug 19 Cattle are at $104.275, down $0.275,

Oct 19 Cattle are at $105.875, down $0.225,

Aug 19 Feeder Cattle are at $135.250, down $1.275

Sep 19 Feeder Cattle are at $135.825, down $1.175

Oct 19 Feeder Cattle are at $136.500, down $0.925

--provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.